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Should I pay Class 2 NIC voluntarily?

Should I pay class 2 NIC voluntarily

Entitlement to the state pension and certain contributory benefits depends on an individual having paid, or been credited with, sufficient National Insurance contributions. To qualify for the full single-tier state pension, an individual needs 35 qualifying years. A reduced state pension is paid where a person has less than 35 qualifying years, but at least … Read more

Voluntary National Insurance contributions – should you pay?

Voluntary National Insurance Contributions

The payment of National Insurance contributions provides the mechanism by which an individual builds up their entitlement to the state pension and certain contributory benefits. Different classes of contribution provide different benefit entitlements. Employed earners pay Class 1 contributions where their earnings exceed the lower earnings limit – set at £118 per week (£512 per … Read more